Consumerism refers to the attitude that values the acquisition of material good such as luxury apartments, cars, expensive jewelry, designer clothes, hi-end products etc. The term is also used to describe the effect of market economy on an individual.

Due to globalization the products that were out of reach of the common man are now easily available these days. In the metropolitan cities the youth in the age group of 18-22 years spend lavishly. They have a propensity to spend rather than to save.

With an increase in purchasing power people have started indulging in a faulty diet. 65% of adult population of US is facing problem of obesity due to regular intake of pizzas, colas and other low-fiber and high-fat foods.

One of the consequences of trying to elevate the standard of living is that people end up in huge in debts. In a bid to repay those debts people tend to slog day and night. Such a financial crisis can also affect family ties and it strains relationships. Family as we know is the basic building block of the society. Hence, consumerism creates a vicious circle which affects the entire society. (contd)